Global Plumbing Fixtures Market to Reach US$ 114.2 Billion by 2028, Catalyzed by Shifting Consumer Inclination Toward Modern Homes

June 29, 2022 | Retail

IMARC Group’s latest report, titled “Plumbing Fixtures Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global plumbing fixtures market size reached US$ 84.5 Billion in 2022. Plumbing fixtures refer to devices or receptacles attached to a plumbing system that supplies water throughout a building. Some of the most commonly installed plumbing fixtures include sinks, toilets, urinals, faucets, showers, bathtubs, water closets, washbasins, and flushing cisterns. They are manufactured using smooth, non-corrosive, non-absorbent, and anti-microbial materials that promote easy cleaning. They are designed to carry water or discharge sewage and liquid waste into the drainage system connected to them directly or indirectly. As a result, plumbing fixtures are widely installed in kitchens, bathrooms, washrooms, and different parts of residential, commercial, and industrial buildings.

Global Plumbing Fixtures Market Trends:

The shifting consumer inclination toward modern homes represents the primary factor driving the market growth. Moreover, the increasing home construction and renovation activities due to the expanding population, rapid urbanization, and elevating income levels is another major growth-inducing factor. In addition, plumbing fixtures are gaining traction in commercial establishments, such as hotels, gyms, restaurants and resorts, to maintain hygiene standards and enhance the customer experience. Besides this, the rising preferences for luxury kitchens and washrooms that are functional and aesthetically appealing, especially among the urban population, have augmented the product demand. Furthermore, the leading manufacturers are introducing eco-friendly plumbing fixtures that save cost, provide superior performance, minimize carbon footprint, and reduce the wastage of water and energy. In line with this, the surging popularity of innovative water-efficient fixtures and plumbing technology, such as low flow faucets and sensors and dual flush toilets, that promote freshwater conservation has catalyzed market growth. Other factors, including the escalating demand for premium quality plumbing fixtures, rising consumer spending on smart homes, growing adoption of ceramic sanitary ware, extensive investments in infrastructure development, and increasing hygiene consciousness, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 114.2 Billion by 2028, expanding at a CAGR of 5.05% during the forecast period (2023-2028).

Market Summary:

Based on the product, the market has been segmented into bathtubs, sinks, toilets, showers, faucets and taps, drains, and others.
On the basis of the location, the market has been categorized into bathroom, kitchen, and others.
The market has been divided based on the application into new construction, and repair and renovation.
Based on the distribution channel, the market has been bifurcated into online and offline channels.
On the basis of the end user, the market has been classified as residential and commercial.
Region-wise, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has also been analyzed, with some of the key players being Bradley Corporation, Elkay Manufacturing Company, Globe Union Industrial Corp., Hansgrohe SE (Masco Corporation), Kohler Co., LIXIL Corporation, MAAX Bath Inc. (American Bath Group), Moen Incorporated (Fortune Brands Home & Security Inc.), Roca Sanitario S.A. and Toto Ltd.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Product, Location, Application, Distribution Channel, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Bradley Corporation, Elkay Manufacturing Company, Globe Union Industrial Corp., Hansgrohe SE (Masco Corporation), Kohler Co., LIXIL Corporation, MAAX Bath Inc. (American Bath Group), Moen Incorporated (Fortune Brands Home & Security Inc.), Roca Sanitario S.A. and Toto Ltd.
Customization Scope	10% Free Customization
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Global Plumbing Fixtures Market to Reach US$ 114.2 Billion by 2028, Catalyzed by Shifting Consumer Inclination Toward Modern Homes

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